Interview with BrickBro's CEO- Guillermo Preckler
This time we sit down together with Guillermo Preckler for a short chat to learn more about him and Brickbro Global Investments S.L. Without further due, here's a short interview of the things we've discussed.
-How did you decide to start BrickBro? Could you tell me about yourself and the journey so far?
Part of the reason I started when I did was that I didn’t have any major responsibilities in my previous job at PWC Spain. I always had this aspiration to go out on my own even before trying a corporate job. With BrickBro I never stop learning and I have some amazing experiences and I truly believe there is nothing more beautiful than building your own business and living your life this way. I want to continue to surround myself with the best talent I can find and take the company to the next level, hopefully global. At the same time, I’m involved in a charity project in Africa, The Medasi Foundation, supporting and trying to improve the education of hundreds of children in Ghana. This is also important to me and something I wouldn’t be able to do were it not for my success as an entrepreneur.
- How did you decide to target the renovation of grand floor commercial properties?
In prime Spanish cities, a lot of old commercial property is vacant and you can actually buy it for a very competitive price, while on the other hand housing costs with every day in cities become unaffordable for most of the people. This creates a perfect niche where the market has a big potential and also very high margins. This stands for both commercial and residential properties. Residential properties are highly price competetive, as we buy and sell them always below the market value and as the cities are full of tourists and business the demand is always there. Commercial- especially offices are in shortage in both cities, the demand is higher than the supply, especially for bigger offices like 500 sq. m., we see a big potential for selling them to landlords who would develop co-workings as the yield would be much higher compared to small office rents.
- Now you are expanding to Madrid. What differences do you see in the property market there?
Well it’s clear that Madrid is the biggest market in Spain, however, at the same time, it’s much more mature comparing this niche to Barcelona. Even though Madrid’s market is more advanced, taking into account that it’s is bigger, we believe there’s 40% more capacity to develop our product there. The main central part of the city in terms of offices has even lower supply compared to Barcelona.
- This year you have turned 1 year old. What's next for this year? How many deals do you aim to finance?
We are going to close 2019 with more than 50 operations between Barcelona and Madrid, and with a GMV of 7,5M€. In the future we will try to extend deeper into Madrid and we are already exploring foreign markets- Portugal is already on our radar. We will also intend to fundraise for our company's operation as we are always in search for the best talent out there.